Fiera Capital Names CJ Morrell as Head of Japan

The Land of the Rising Sun continues to climb in the estimation of overseas fund managers, with Fiera Capital becoming the latest to extend its reach with the appointment of CJ Morrell as head of Japan.

Morrell’s newly created role will enable Fiera to increase its strategic focus on the Japanese market during a period of comprehensive economic reform in the country, the Montreal-based firm said Thursday in a release.

Morrell reports to Fiera Capital Asia CEO Rob Petty and will help expand the firm’s regional footprint beyond Singapore, Hong Kong and South Korea. The veteran portfolio manager’s 30-year career includes stints with Merrill Lynch, JP Morgan and Sloane Robinson Asset Management, according to Fiera Capital.

“As a firm, our commitment comes at a time when we are seeing the long-term impact of the government’s ongoing financial reform, the end of the zero-interest rate environment, and thus a long-term opportunity for our active asset management mindset and differentiated strategies to offer Japanese investors our long-term Canadian perspective on investments,” Petty said.

Private Credit Focus

Morrell takes responsibility for growing Fiera’s presence on the ground and building upon the firm’s existing relationships in Japan. Private alternatives are the priority asset classes for Fiera’s institutional initiatives in Asia’s second-largest economy, with unleveraged, income-generating private credit a key focus.

The expansion brings Japan within the scope of Fiera’s ANZ Real Estate Debt strategy, which provides short-term senior secured financing to developers and property owners for construction or redevelopment projects in Australia, New Zealand, South Korea, Singapore and Hong Kong.

Morrell’s appointment is the latest milestone in what is shaping up to be a busy year for Fiera Capital, which has $122 billion in assets under management. The firm in February announced the opening of dedicated regional offices in Abu Dhabi and Zurich.

Fiera’s real estate investments have included a Vodafone-occupied London data centre alongside joint venture partner SEDCO Capital. In 2016, London-based Palmer Capital teamed with Saudi Arabia’s SEDCO to acquire the asset, which is leased to Vodafone’s cable and wireless unit through 2039.

SEDCO and Palmer Capital, which was acquired by Fiera Real Estate in 2018, had paid £35.2 million (now $4.4 million) for the property, with the facility then described as a recently refurbished Grade A office asset. In late 2021, Singapore’s Keppel DC REIT announced its purchase of the asset for £57 million.

Centre of Attention

Fiera’s news adds to a week of announcements by Western fund managers installing fresh leadership at their Japan outposts.

On Tuesday, real asset manager Patrizia announced the appointment of Masami Takizawa and Thomas Hirschvogel as co-heads of Japan with immediate effect. The German firm aims to grow its assets under management in Japan to JPY 300 billion ($2 billion) by 2027 through its flagship real estate and infrastructure strategies.

On Wednesday, Mingtiandi reported on PIMCO Prime Real Estate’s hiring of Hiroyuki Mochizuki as head of Japan. Mochizuki succeeds Daisuke Noguchi, who served in the role for the company then known as Allianz Real Estate until December 2022 before joining regional apartment specialist Weave Living last April.